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Churchill Asset Management (Churchill), a provider of senior and unitranche debt financing to middle market companies, has closed its second structured debt investment offering, a USD340 million collateralised loan obligation fund (CLO) named TIAA Churchill Middle Market CLO II Ltd.
This follows TIAA Churchill Middle Market CLO I Ltd, a USD382 million transaction, which closed in September 2016 and the more recent final closing of the Churchill Middle Market Senior Loan Fund, LP (and related investment vehicles) with over USD1.1 billion in committed capital in November 2017.
“We are encouraged by the positive response from investors to our second
IWSC Group has rebranded as The Conversion Fund in a move the firm says more accurately reflects the nature of the company as a private investment vehicle, partnering with entrepreneurs and innovative management teams to drive sustainable value.
With expertise in acquiring, incubating and growing businesses that span sectors in food, beverage, performance & arts, creative & media and exhibitions & networking, the rebrand places the company at an exciting intersection of acquisition.
The Conversion Fund looks to combine inspirational management, creative mindsets, and a disciplined approach to business planning, in order to disrupt existing business models in the
Lawyers from Carey Olsen’s corporate and finance group in Guernsey have advised longstanding client, Inflexion Private Equity (Inflexion), on its minority investment in Radius Payment Solutions (Radius), a leading fleet payments and telematics provider.
Inflexion has invested GBP150 million in Radius, with the deal valued at GBP800 million, through its Partnership Capital Fund. Its investment will support Radius’ continued organic growth whilst helping to accelerate sales worldwide.
Partner Andrew Boyce led the Carey Olsen team advising Inflexion on all the Guernsey legal aspects of the deal and associated finance facility, with assistance from associates Rachel de la Haye and
Kirkland & Ellis International is advising Vitruvian Partners on the acquisition of Technogroup IT-Service. The transaction is still subject to the approval of the antitrust authorities.
Vitruvian Partners is an independent pan-European private equity firm which specialises in ‘dynamic situations’ – investments in companies undergoing rapid growth and change. Vitruvian has total assets under management of approximately EUR5 billion and offices in London, Munich, Stockholm, Luxembourg and San Francisco.
Technogroup is a third party maintenance (TPM) player in the DACH region. It provides insurance-like technology maintenance services and additional value-add services for IT systems in data centres in its
LiveHire Limited, a Live Talent Community software platform providing an enterprise scale, human-cloud hiring ecosystem across entire industries, has received firm commitments to raise USD20 million via a placement to institutional and sophisticated investors.
The Placement will comprise of approximately 19.05 million shares (Placement Shares) at a price of USD1.05 for each Placement Share. This price represents a 2.1 per cent premium to the Company’s 15-day volume weighted average price (VWAP). The Placement Shares will rank equally with existing ordinary shares.
The Placement is expected to be completed within 5 business days and will be issued without disclosure under
Murray Devine has appointed Mark Emrich in the firm’s New York office. Emrich will lead Murray Devine’s New York business development activities with an emphasis on alternative investment firms and financial service intermediaries including investment banks, law firms, accounting and audit firms, and insurance companies.
Emrich has over 20 years of experience in senior investment sales and business development at financial service firms across multiple asset classes and investment strategies in both the public and private markets. Prior to Murray Devine, Mr. Emrich was Managing Director at Anagenesis Capital Partners, a New York based healthcare and consumer private credit investment
Callan, an institutional investment consulting firm, has appointed Harshal Shah, CFA, as a senior vice president in the firm’s Private Equity (PE) Research Group in its San Francisco office.
Shah most recently was a PE portfolio manager with the California Public Employees’ Retirement System (CALPERS). Prior to that, he was a vice president for Strategic Investment Solutions (SIS, now Verus Advisory) specialising in direct PE consulting to large fund sponsors. He will report to Gary Robertson, SVP and manager of Callan’s Private Equity Research Group.
“Harshal is an experienced investment professional with a strong background in direct private equity
Funds advised by Equistone Partners Europe (Equistone) have agreed to acquire two prefabricated home manufacturers Bien-Zenker and Hanse Haus from Munich-based industrial holding company ADCURAM Group AG.
The financial terms of the deal, which is subject to competition and regulatory approval, have not been disclosed.
Both based in Germany, Bien-Zenker and Hanse Haus design, manufacture, sell and build prefabricated homes in Germany, Switzerland and the UK. The companies’ three renowned brands – Bien-Zenker, Living Haus and Hanse Haus – offer customers bespoke home-building programmes ranging from ‘entry level’ products, which include self-build options, to more luxurious residences. Together they
Motive Partners, an investment firm focused on fintech companies, has appointed a Global Advisory Council (GAC)
The council consists of: Douglas Flint CBE, Former Group Chairman of HSBC; Russell Fradin, Operating Partner at Clayton, Dubilier & Rice and former President & CEO of SunGard Data Systems; Rosemary Leith, Founding Director of the World Wide Web Foundation & Fellow at Harvard’s Berkman Center; Peter Leukert, Group CIO at Deutsche Telekom; James Neary, Managing Director of Warburg Pincus; Henry Ritchotte, former Chief Operating Officer of Deutsche Bank;
Lawrence H Summers, Charles W. Eliot University Professor & President Emeritus at Harvard University &
Athyrium Capital Management, an asset management company focused on opportunities in the global healthcare sector, and Neuberger Berman, have closed Athyrium Opportunities Fund III, which seeks to make capital investments in commercial-stage healthcare companies.
Athyrium Opportunities Fund III closed at approximately USD2.025 billion. Including the new fund, Athyrium Capital now advises funds with committed capital in excess of USD3.7 billion.
The Fund’s global investor base comprises more than 45 institutions, including public and private pension funds, endowments, foundations and sovereign wealth funds, a number of which also invested in the first Athyrium Opportunities Fund, which closed in March 2013, and Athyrium Opportunities Fund
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